DOCSLIB.ORG

2018 Proves to Be Another Robust Year for Austin Office Market Vacancy Under Construction Deliveries Net Absorption Avg

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2018 Proves to Be Another Robust Year for Austin Office Market Vacancy Under Construction Deliveries Net Absorption Avg MARKETVIEW Austin Office, Q4 2018 2018 proves to be another robust year for Austin office market Vacancy Under Construction Deliveries Net Absorption Avg. Asking Rate 9.6% 4,913,727 SF 0 SF 723,773 SF $36.64 PSF *Arrows indicate change from previous quarter. Figure 1: Net Absorption and Vacancy Net Absorption (000s SF) Vacancy Rate (%) 2,200 26 1,400 21 600 16 (200) 11 (1,000) 6 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q1 Q2 Q3 Q4 Total Annual Net Absorption Vacancy Rate Source: CBRE Research, Q4 2018. As 2018 draws to a close, absorption levels in the The cooling temperatures that have settled across office market completely rebounded from the flat the Texas Hill Country have had zero effect on first half of the year, surpassing 1.3 million sq. ft. subduing rising operational costs throughout of positive net demand for the year. As vacancy Austin. Costs rose to $10.60 per sq. ft. in Q4 2018, a slipped below 10% and citywide average asking $0.22 increase from Q3 2018. The citywide NNN rates climbed to a new historic high, developers asking rate increased $0.93, rising to $26.04 per sq. demonstrated their continued faith in Austin’s ft. Combined, the Full Service Gross asking rate for upward momentum by kicking off an additional Q4 2018 was $36.64 per sq. ft., a new record high 500,000 sq. ft. of new construction. for the Austin market. Tenant demand remains robust leading into 2019, with more than 9 million End of year absorption activity registered 723,773 sq. ft. of tenant demand currently in the market. sq. ft. of positive net demand, bringing the annual total to 1,380,173 sq. ft.; this is the 5th year in a row The Austin Business-Cycle Index (a collection of that Austin has seen yearly absorption crest 1 employment and payroll indicators) expanded at million sq. ft. Vacancy rates decreased 50 basis 7.9% in Q4 2018, above the long-term growth points from 10.2% in Q3 2018 to 9.6% in Q4 2018. average of 6.0%. Total employment in 2018 has The booming development pipeline added an increased by 3.4%, with the Construction and additional 500,000 sq. ft. in Q4 2018, bringing the Mining sector being the largest contributor to job total to 4,913,727 sq. ft. across 37 projects. growth in Austin. Q4 2018 CBRE Research © 2018 CBRE, Inc. | 1 MARKETVIEW AUSTIN OFFICE Figure 2: Austin Office Market Statistics Net Total Total Avg. FSG Under Q4 2018 Q4 2018 2018 Submarket Rentable Vacancy Availability Asking Construction Deliveries Net Net Area (%) (%) Rate ($) (SF) (SF) Absorption Absorption CBD 10,996,720 6.3 8.8 47.88 1,539,304 - 162,083 558,794 Class A 8,073,060 5.0 7.4 52.66 1,539,304 - 160,000 498,170 Class B 2,611,510 10.0 11.6 43.47 - - 3,778 54,999 Northwest 14,549,865 9.1 11.5 36.72 709,519 - 483,533 445,607 Class A 8,959,927 9.5 12.3 40.68 709,519 - 359,387 432,180 Class B 5,411,806 8.4 10.3 32.59 - - 132,741 22,518 Far Northwest 4,531,614 6.6 12.1 32.76 396,329 - 53,518 77,807 Class A 3,012,320 7.6 11.1 35.70 396,329 - 54,221 117,876 Class B 1,392,161 4.7 14.9 29.45 - - (5,668) (37,082) Northeast 2,103,166 16.4 24.8 28.00 204,390 - 28,897 (35,900) Class A 1,031,394 17.1 26.2 28.56 - - 2,393 (30,172) Class B 891,268 18.3 19.8 25.23 204,390 - 27,056 (9,772) North 734,307 13.6 15.4 27.80 - - (28,432) 45,653 Class A - - - N/A - - - 18,578 Class B 723,307 13.2 15.0 27.8 - - (28,432) 27,075 Central 1,930,818 10.2 12.3 33.14 205,161 - (20,809) (1,941) Class A 522,914 8.2 11.3 45.42 178,770 - (20,238) 45,368 Class B 1,218,995 11.2 13.1 29.96 26,391 - (41) (34,285) Round Rock 864,126 21.0 22.3 27.88 59,476 - (12,373) 899 Class A 151,134 77.3 77.3 31.15 - - - 1,050 Class B 670,874 9.3 10.9 24.63 59,476 - (12,373) 2,364 East 711,658 17.0 17.2 43.82 1,004,146 - (8,279) (24,059) Class A 149,360 61.0 61.8 46.72 793,146 - (9,637) (4,771) Class B 452,823 5.0 5.0 38.17 211,000 - 1,358 (19,288) South 1,141,364 4.4 4.9 31.00 170,183 - (11,898) 102,221 Class A 399,458 1.3 1.3 47.93 129,201 - (5,191) 110,596 Class B 405,857 2.2 3.7 34.80 40,982 - 4,648 15,493 Southeast 1,127,958 16.1 16.4 26.47 138,850 - 45,028 49,905 Class A 155,022 13.4 13.4 31.62 71,225 - 3,456 (13,117) Class B 876,225 17.8 18.2 27.46 67,625 - 41,572 61,135 Southwest 11,102,764 11.4 15.7 36.64 486,369 - 32,505 161,187 Class A 7,730,533 12.1 17.7 40.93 427,102 - 21,068 159,621 Class B 3,225,191 9.9 11.4 31.00 59,267 - 10,743 (536) Austin Total 49,794,360 9.6 12.8 36.64 4,913,727 - 723,773 1,380,173 Class A 30,185,122 9.5 13.1 42.25 4,244,596 - 565,459 1,335,379 Class B 17,880,017 9.8 12.0 31.84 669,131 - 175,382 82,621 Although Class C is not shown, totals are inclusive of all classes of data. Source: CBRE Research, Q4 2018. Q4 2018 CBRE Research © 2018 CBRE, Inc. | 2 MARKETVIEW AUSTIN OFFICE Figure 3: Austin Labor Force & Unemployment (%) (Thousands) 8 1,300 Forecast 7 1,100 6 900 5 700 4 3 500 2 300 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Total Employment (Non-Farm) Unemployment Rate Source: Moody’s Analytics, October 2018. Figure 4: Historical Construction and Deliveries MSF 5.0 4.0 3.0 2.0 1.0 0.0 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Under Construction Delivered Construction Source: CBRE Research, Q4 2018. Figure 5: Significant Leases / Sales of Q4 2018 Figure 6: Q4 2018 Signed Leases by Industry Lease (Tenant) Property Total SF 22% Cognitive Scale Inc 9500 Arboretum 54,070 31% EBQuickstart Bergstrom Tech Center 41,406 Industrious 823 Congress 23,659 20% 6% Sale (Building) Address Total SF 4% 18% Prominent Pointe I & II 8310 N Capital of Texas 252,943 Technology Business Services Engineering Cambridge Tower 1801 Lavaca St 240,000 Financial Health Other Source: CBRE Research, Real Capital Analytics, Q4 2018. Source: CBRE Research, Q4 2018. Q4 2018 CBRE Research © 2018 CBRE, Inc. | 3 MARKETVIEW AUSTIN OFFICE Figure 7: Historical Market Statistics 2011 2012 2013 2014 2015 2016 2017 YTD 2018 CBD Absorption (Net SF) 167,794 177,023 64,099 369,822 649,300 97,639 564,236 558,794 Asking Rent, Avg. Annual 34.07 36.08 38.15 40.1 41.33 47.67 44.95 47.88 Delivered Construction (SF) - - - 167,871 557,470 195,863 745,936 122,667 Vacancy Rate (%) 13.3 12 12 9.4 7.1 7.8 7.9 6.3 NORTHWEST Absorption (Net SF) 1,103,368 677,714 179,614 224,246 669,701 286,950 471,598 445,607 Asking Rent, Avg. Annual 25.37 25.83 26.28 29.48 31.96 32.8 33.84 36.72 Delivered Construction (SF) - - - 143,331 591,973 372,235 386,921 308,000 Vacancy Rate (%) 20.2 15.3 10.4 9.4 8.8 8.8 8.6 9.1 FAR NORTHWEST * Absorption (Net SF) N/A N/A 366,763 79,360 198,389 336,470 230,820 77,807 Asking Rent, Avg. Annual N/A N/A 27.85 28.95 30.95 30.62 31.79 32.76 Delivered Construction (SF) N/A N/A - - 128,700 - - - Vacancy Rate (%) N/A N/A 12.2 13.8 9.5 9.4 6.3 6.6 NORTHEAST ** Absorption (Net SF) N/A N/A N/A N/A N/A N/A 64,819 (35,900) Asking Rent, Avg. Annual N/A N/A N/A N/A N/A N/A 24.05 28.00 Delivered Construction (SF) N/A N/A N/A N/A N/A N/A 0 115,000 Vacancy Rate (%) N/A N/A N/A N/A N/A N/A 9.6 16.4 NORTH CENTRAL*** Absorption (Net SF) 103,556 (109,170) 90,741 222,683 90,066 251,093 N/A N/A Asking Rent, Avg. Annual 21.12 21.63 23.14 22.89 27.29 25.95 N/A N/A Delivered Construction (SF) - - - - 214,962 46,000 N/A N/A Vacancy Rate (%) 21.6 23 23.8 15.4 13.1 10.2 N/A N/A NORTH** Absorption (Net SF) N/A N/A N/A N/A N/A N/A (18,159) 45,653 Asking Rent, Avg.
Load more

Recommended publications
  • The Decade Ends with Even More Construction in Austin's Office Market
    Research & Forecast Report AUSTIN | OFFICE Q4 2019 The decade ends with even more construction in Austin’s office market Kaitlin Holm Research and Marketing Coordinator | Austin Boots On The Ground Commentary by Ally Dorris Future Forecast Our “Boots on the Ground” viewpoint is the voice of our experts, who While the loudest buzz is in downtown, Austin’s periphery is in the have broken down the market data and compared it to what they are growth path as well. Amazon has proposed an extraordinary 3.8 seeing for themselves. This is their take on what the numbers actually million square foot distribution center in Pflugerville. On top of that, mean for the Austin office market. an additional 120 acres is rezoned for a mixed-use development in Pflugerville, deemed NorthPointe. Williamson County’s popularity As anticipated, based on the last five years’ worth of quarterly has sky-rocketed thanks to new developments on the horizon reports, the Austin commercial market closed out the decade firing like the one billion dollar Apple campus. According to the Texas on all cylinders. Q4 of 2019 was the cherry on top of another year Demographic Center, the population of the North Austin/Round of growth and development in the Texas capitol city. As venture Rock metro will top 1.6 million by 2050, which would quadruple the capital funding hit a record high of $2.2 billion, construction number at the start of the decade, which was 422,679. continues and more cranes pop up all over the city, there is no sign of slowing down in this tech hub as we enter into the new age- 20’s.
    [Show full text]
  • BOMA 360 Adds up to and Renewals in the Program: MOST BUILDING DESIGNATIONS OVERALL 1
    PERFORMANCE PROGRAM ® TOP 10 COMPANIES More than 125 owners and manage- ment companies already recognize the value the BOMA 360 designation brings to their buildings. These companies are leading the way with the most building designations BOMA 360 Adds Up to and renewals in the program: MOST BUILDING DESIGNATIONS OVERALL 1. Cushman & Wakefield 2. Piedmont SUCCESS 3. Brookfield 4. CBRE If you only do one thing to improve the performance 5. Cousins Properties of your commercial property, this is it: 6. JBG Smith EARN THE BOMA 360 DESIGNATION. 7. The RMR Group LLC With the BOMA 360 designation, you can single-handedly increase your tenant satisfac- 8. Hines tion scores, boost rental rates, lower vacancy levels and outperform the competition. 9. Oracle America, Inc. BOMA 360 gives buildings an edge—and the numbers back this up. 10. SL Green Realty Corp. Going through the application process for the BOMA 360 Performance program gives property teams an objective, holistic evaluation of how the building is being managed These companies had the most and what could be improved. Even great property teams can find areas of improvement building designations and renewals in everything from tenant outreach to sustainability efforts.. in the past year: Over and over, property professionals at BOMA 360-designated buildings talk about MOST DESIGNATIONS the transformative power of the BOMA 360 program to bring their operations and their IN THE PAST YEAR teams into greater alignment. And this leads to measurable benefits: • BOMA 360-designated buildings average $7.51 more per square foot (psf) in rental 1. Brookfield income and $6.25 psf more in net operating income than buildings without the des- 2.
    [Show full text]
  • Class a Office Space in Austin's
    111 CONGRESS AVENUE • AUSTIN, TX 78701 CLASS A OFFICE SPACE IN AUSTIN’S CBD FOR LEASE: 512.225.2700 Jones Lang LaSalle Brokerage, Inc. PROPERTY OVERVIEW » Located on Congress Avenue at Cesar Chavez Suite RSF Date Available 200 9,658 Now » Class A Office 720 2,111 Now » 1:625 structured parking 1055 1,590 Now » World-class amenities including Fareground, Austin’s 1125 5,551 Now first high-end food hall 1550 8,682 9/1/21 1600 19,317 9/1/21 » 24-hour manned security 1700 19,427 9/1/21 » Panoramic views of downtown Austin, the State 2010 5,489 Now Capitol, Lady Bird Lake and the Texas Hill Country 2230 2,151 Now » Steps away from the Lady Bird Lake Hike & Bike Trail 3000 4,789 7/1/21 » Owned and managed by Cousins Properties CLICK HERE FOR 360 WALK THROUGH OF LOBBY & GROUNDS RACHEL COULTER TRAVIS ROGERS COLEMAN JACKSON [email protected] [email protected] [email protected] 512 . 2 2 5 .173 3 512.225.2718 512.599.8846 FAREGROUND An eclectic array of local food & drink in an open space that brings people together CLICK HERE FOR 360 WALK THROUGH OF FAREGROUND Reinvention is an exciting term, which is exactly why we’re using it to describe the corner of 2nd Street and Congress Avenue. We are proud to introduce Fareground, an inside-outside, eat-drink, work-play, early to rise, late to close hub, all within walking distance of the heart of downtown. Fareground is inspired by the idea that to make a place everyone wants to go, you have to have something for everyone.
    [Show full text]
  • 8-Kearningsreleaseex99.1 4Q20
    TABLE OF CONTENTS Forward-Looking Statements 3 Earnings Release 4 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations 7 Key Performance Metrics 8 Funds From Operations - Summary 11 Funds From Operations - Detail 12 Portfolio Statistics 15 Same Property Performance 18 Office Leasing Activity 20 Office Lease Expirations 21 Top 20 Office Tenants 22 Tenant Industry Diversification 23 Investment Activity 24 Development Pipeline 26 Land Inventory 27 Debt Schedule 28 Joint Venture Information 31 Non-GAAP Financial Measures - Calculations and Reconciliations 32 Non-GAAP Financial Measures - Discussion 39 Cousins Properties Q4 2020 Supplemental Information FORWARD-LOOKING STATEMENTS Certain matters contained in this report are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Annual Report on Form 10-K for the year ended December 31, 2020. These forward-looking statements include information about possible or assumed future results of the business and our financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as the following: guidance and underlying assumptions; business and financial strategy; future debt financings; future acquisitions and dispositions of operating assets or joint venture interests; future acquisitions and dispositions of land, including ground
    [Show full text]
  • Class a Office Space in Austin's Cbd for Lease: 512.225.2700
    111 CONGRESS AVENUE • AUSTIN, TX 78701 CLASS A OFFICE SPACE IN AUSTIN’S CBD FOR LEASE: 512.225.2700 PROPERTY OVERVIEW Suite RSF Date Available » Located on Congress Avenue at Cesar Chavez 580 1,295 Now » Class A Office 720 2,111 Now » 1:625 structured parking 850 3,443 Now » 900 23,142 Now World-class amenities including Fareground, Austin’s first high-end food hall 1055 1,590 Now » 1125 5,551 Now 24-hour manned security 1150 1,500 Now » Panoramic views of downtown Austin, the State 1650 701 Now Capitol, Lady Bird Lake and the Texas Hill Country 1660 1,422 Now » Steps away from the Lady Bird Lake Hike & Bike Trail 1680 1,033 Now » Owned and managed by Cousins Properties 1850 8,527 Now 2150 4,239 1/1/2019 2400 11,463 Now 2700 7,834 Now RACHEL COULTER KEVIN KIMBROUGH [email protected] [email protected] 512 . 2 2 5 .173 3 512.225.1736 FAREGROUND An eclectic array of local food & drink in an open space that brings people together Reinvention is an exciting term, which is exactly why we’re using it to describe the corner of 2nd Street and Congress Avenue. We are proud to introduce Fareground, an inside-outside, eat-drink, work-play, early to rise, late to close hub, all within walking distance of the heart of downtown. Fareground is inspired by the idea that to make a place everyone wants to go, you have to have something for everyone. We didn’t just modernize the plaza and lobby space at One Eleven, we repurposed it by giving it purpose.
    [Show full text]
  • COVID-19 Office Impact Report: Downtown Austin, Texas
    September 2020 COVID-19 Office Impact Report Downtown Austin, Texas Introduction COVID-19 has temporarily changed almost every aspect This report has identified three important trends to our lives, including how we work, but it remains to be watch in the coming year or so that could impact our seen how much will change permanently. The primary office market. First, will the office market downtown purpose of this report is to lay the research groundwork absorb the record amount of office space currently necessary to understand the potential impact COVID-19 under construction and scheduled to deliver in the next will have on the downtown office market. The report will twelve months? Second, when will leasing activity in be updated periodically and may evolve to include new downtown rebound and return to pre-COVID-19 levels? trends should they arise. Finally, how will the sublease market evolve as all of this unfolds? While these questions remain unanswered, it is It's important to note that prior to the pandemic our important to monitor the trends to better understand downtown office market boasted extremely strong levels of impact and possible paths to recovery. market fundamentals. This will undoubtedly help. At the end of 2019 (Q4) our office space vacancy rate stood at 5.4% and had remained below 10% since the second quarter of 2011. The pandemic has already ticked that up to 8.2% and is expected to increase in the near future. With consistent occupancy rates and steadily growing rents, no one is surprised that developers have responded with project after project producing new inventory year after year.
    [Show full text]
  • Texas Ethics Commission 2010 List of Registered Lobbyists with Employers/Clients (Emp/C) Sorted by Concern Name
    TEXAS ETHICS COMMISSION 2010 LIST OF REGISTERED LOBBYISTS WITH EMPLOYERS/CLIENTS (EMP/C) SORTED BY CONCERN NAME Employer/Client Concern Mailing Address Lobbyist Lobbyist Address Compensation Type Amount Termination Date 1st American Pension Services 1400 N. Cooper St. Arlington, TX 76011 Goolsby, J. Tony 1122 Colorado #2005 Austin, TX 78701 Prospective $25,000 - $49,999.99 12/31/2010 24 Hour Fitness USA Inc. 12647 Alcosta Boulevard Suite 500 San Ramon, CA 94583 Goodell-Polan, Deborah P.O. Box 50272 Austin, TX 78763 Paid Less Than $10,000.00 12/31/2010 3M Company 6801 River Place Blvd. 130-5N-07 Austin, TX 78726-9000 Bridges, Russell B. 6801 River Place Blvd. 130-5N-07 Austin, TX 78726-9000 Prospective $100,000 - $149,999.99 12/31/2010 3M Company 3M Center Building 235-3A-09 St. Paul, MN 55144-1000 Eschberger, Brenda 919 Congress Avenue Suite 950 Austin, TX 78701 Paid Less Than $10,000.00 12/31/2010 Johnson, Michael J. 919 Congress Avenue Suite 950 Austin, TX 78701 Paid Less Than $10,000.00 12/31/2010 Kelley, Russell T. 919 Congress Avenue Suite 950 Austin, TX 78701 Paid $10,000 - $24,999.99 12/31/2010 Kemptner, Sara 919 Congress Avenue Suite 950 Austin, TX 78701 Paid Less Than $10,000.00 12/31/2010 Longley, Joey 919 Congress Avenue Suite 950 Austin, TX 78701 Paid Less Than $10,000.00 12/31/2010 McGarah, Carol 919 Congress Avenue Suite 950 Austin, TX 78701 Paid $10,000 - $24,999.99 12/31/2010 Waldon, Barbara 919 Congress Avenue Suite 950 Austin, TX 78701 Paid Less Than $10,000.00 12/31/2010 3M Health Information Systems 100 Barnes Rd.
    [Show full text]
  • Austin Office MARKETWATCH Report Is a Monthly Report Prepared by Transwestern That Tracks Market Statistics for the Austin MSA
    REAL ESTATE OUTLOOK AUSTIN OFFICE MARKET WATCH JUNE 2017 Recent Office Leases OFFICE LEASE STATISTICS :: VACANCY & RENTAL RATE 25.0%25.0% $36.00$36.00 Northwest :: Hays Software (renew) GROSS RENT PSF ($) VACANCY (%) 11,110 SF at Riata Gateway 20.0%20.0% $32.00$32.00 Northwest :: Fathom Water Mgmt (subls) 15.0%15.0% $28.00 14,053 SF at Riata Corporate Park 7 $28.00 10.0%10.0% $24.00 CBD :: Dykema Gosset $24.00 5.0%5.0% 10,891 SF at One Eleven Congress 0.0% $20.00 0.0% QTD $20.00 10 11 12 13 14 15 16 17 Central :: Cobb Fendley & Assoc. 16,444 SF at Centennial Towers All office buildings larger than 25,000 SF excluding government, medical, user campuses and office condos. Office Sales Statistics Recent Office Sales AUSTIN AUSTIN U.S. TRAILING AUSTIN QUARTER TRAILING U.S. 12 MO. Q1 2017 TO DATE 12 MO. Q1 2017 Southwest :: Capital Ridge Volume ($ Mil) $2,842.3 $539.9 $123.5 $139,691 $28,758.5 320 S. Capital of Texas Highway No. of Properties 77 14 5 5,769 1,428 217,000 SF 7 story Class A office building Buyer: GLL Real Estate Partners Total SF 9,849,227 2,036,349 354,064 583,995,689 124,764,923 Seller: Miller Global JV Riverside Resources Average Price/SF $299 $341 $382 $253 $246 Average Cap Rate (Yield) 6.3% 5.4% N/A 6.6% 6.7% SOURCE: Real Capital Analytics Monthly Office Lease Statistics By Submarket NO.
    [Show full text]
  • Austin Sublease Report
    For More Information, Matt Watson 512 699 2104 1 500 W 2nd St Location: CBD Cluster Building Type: Class A Office CBD Submarket Travis County Status: Built 2017 Austin, TX 78701 Stories: 29 RBA: 509,376 SF Typical Floor: 17,414 SF Developer: The Beck Group Total Avail: 46,187 SF % Leased: 100% Management: CBRE Recorded Owner: Gw Block 23 Office Llc Expenses: 2019 Tax @ $13.26/sf; 2019 Ops @ $14.86/sf, 2015 Est Ops @ $14.89/sf Parcel Number: 01050010010000 Parking: 800 Covered Spaces are available; Ratio of 2.00/1,000 SF Amenities: Balcony, Conferencing Facility, Fitness Center, Property Manager on Site, Shower Facilities Floor SF Avail Floor Contig Bldg Contig Rent/SF/Yr + Svs Occupancy Term Type P 17th / Suite 1750 10,135 10,135 10,135 Withheld Vacant Negotiable Sublet For more information contact Matt Watson @ 512 699 2104 [email protected] Copyrighted report licensed to Austin Office Space, Inc - 84170. Page 1 For More Information, Matt Watson 512 699 2104 2 515 Congress Ave - 515 Congress - 6th & Congress Location: 515 Congress Building Type: Class A Office CBD Cluster CBD Submarket Status: Built 1974 Travis County Stories: 26 Austin, TX 78701 RBA: 263,058 SF Typical Floor: 14,000 SF Developer: - Total Avail: 49,554 SF % Leased: 84.9% Management: Stream Realty Partners, LP Recorded Owner: - Expenses: 2019 Tax @ $12.11/sf; 2014 Combined Est Tax/Ops @ $15.14/sf Parcel Number: 02060306160000 Parking: 340 Covered Spaces @ $195.00/mo; Ratio of 1.77/1,000 SF Amenities: 24 Hour Access, Banking, Bicycle Storage, Conferencing Facility, Fitness Center, Property Manager on Site, Restaurant, Shower Facilities Floor SF Avail Floor Contig Bldg Contig Rent/SF/Yr + Svs Occupancy Term Type P 19th / Suite 1900 5,568 5,568 5,568 $33.60/n Vacant Thru Mar 2022 Sublet For more information contact Matt Watson @ 512 699 2104 [email protected] Copyrighted report licensed to Austin Office Space, Inc - 84170.
    [Show full text]
  • Colliers International
    Research & Forecast Report AUSTIN | OFFICE Q3 2019 Construction continues as tech companies keep taking space in Austin Kaitlin Holm Research and Marketing Coordinator | Austin Boots On The Ground Commentary by Volney Campbell Future Forecast Our “Boots on the Ground” viewpoint is the voice of our experts, who Historically, Austin’s major tech employers have included the likes have broken down the market data and compared it to what they are of Dell, AMD, Cirrus Logic, Samsung and Motorola; however, in the seeing for themselves. This is their take on what the numbers actually last few years the expansions from Google, Facebook, Amazon/ mean for the Austin office market. Whole Foods, Oracle, Apple and Indeed have changed the landscape in Austin for the foreseeable future. All six groups have placed In traveling around the country on business it seems if almost major bets on Austin totaling over 5,000,000 square feet of space everyone is at least familiar with Austin and many know a great leased indicating that this Austin run is not over and may not even deal about the city and its growth. So well published has our be in the final innings of the game. Yes, Austin will experience meteoric rise been from a small government city 30 years ago, to growing pains, but the investment in our city paints a pretty nice approaching tier one status as a technology hub, I guess I should picture of the future. Even if it will not be the same as it was. not be surprised. Recently, more questions are surfacing about where I see Austin in the future and is it due for a setback? By The Numbers - Austin’s Office Market It’s not hard to find locals that think the Austin they knew is already a relic of the past.
    [Show full text]
  • 2019 ESG Report
    Cousins Properties 2019 ESG Report OUR COMMITMENT TO SUSTAINABILITY About this Report A Message from our CEO DISCLAIMER Corporate Overview This ESG Report contains “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item Our Value Creation Strategy 1A included in the Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and June 30, 2020. These forward-looking statements include, among other things, information concerning our sustainability strategies and objectives, including Our Sustainability Strategy projected cost savings, water usage, waste, energy consumption, building certifications, development and redevelopment activity, our goals and activities related to social and governance matters, including diversity and engagement, and, other forward-looking data. Any forward-looking statements are based upon management’s Our View of ESG beliefs, assumptions, and expectations of our future performance, initiatives and priorities, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, Our ESG Priorities liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited
    [Show full text]